THE DEETER DIGEST 🥣
Your weekly bowl of CPG news, served with a side of spice
Issue #33 | June 15, 2026
🥄 FIRST BITE
The appetizer before we dive in
Welcome back. Second Nature Brands just acquired Tillamook Country Smoker — $175M+ in sales, two manufacturing facilities, and nearly 50 years of meat snacking heritage. The PE firm that bought Voortman for $305M and Sahale Snacks for $34M is quietly building one of the largest snack platforms in America while everyone debates celebrity brands.
Meanwhile, Smucker’s stock jumped 12% after Q4 net sales rose 6% and earnings beat estimates by 20%. The same company we covered hiring Goldman Sachs for a portfolio review is suddenly delivering. Remedy Skincare landed a Series A from L Catterton less than 18 months after founding. Stars + Honey raised $24M from VMG after growing 300% and projecting $50M this year. AG1 launched AG1 Pro — creatine-infused greens — because apparently one daily habit isn’t enough. And the FDA approved the first new sunscreen ingredient since the 1990s.
The theme this week is layers. Brands are layering new products onto existing habits (AG1 Pro). Platforms are layering acquisitions onto existing portfolios (Second Nature, Mammoth). And founders are layering velocity onto velocity (Stars + Honey, Remedy). The brands and platforms adding layers the fastest are the ones pulling ahead. Let’s dig in.
🍊 THE MAIN COURSE
This week’s biggest CPG moves
Second Nature Brands Acquires Tillamook Country Smoker — The Quiet Snack Empire Grows
Second Nature Brands acquired Tillamook Country Smoker for an undisclosed sum. Founded in 1975, Tillamook operates two manufacturing facilities in Oregon with sales north of $175M. Sellers: Insignia Capital Group and family shareholders. SNB has acquired Voortman ($305M), Sahale Snacks ($34M), and Brownie Brittle since 2022.
This is the snack platform story nobody’s talking about. While the media covers celebrity brands and billion-dollar exits, Second Nature Brands is systematically building one of the largest independent snack portfolios in America through disciplined M&A. Voortman (cookies and wafers, $305M). Sahale (premium trail mix, $34M). Brownie Brittle. And now Tillamook Country Smoker ($175M+ in meat snacks with owned manufacturing).
The manufacturing angle is the strategic play within the deal. Two production facilities in Oregon give SNB vertical integration in meat snacks — margin control, quality control, and supply chain security. In a category where Chomps is approaching $900M and Archer is approaching $500M, owning manufacturing at scale is a competitive advantage most insurgent brands don’t have.
SNB’s combined portfolio now spans cookies, crackers, trail mix, brownie snacks, and meat snacks. That’s a diversified snack platform with exposure to every major snacking occasion and every major retail channel. The boring platform-building thesis keeps producing the most defensible businesses in CPG.
Smucker Q4: Stock Jumps 12% After Beating Estimates
J.M. Smucker reported Q4 net sales of $2.3B, up 6%. Adjusted EPS of $2.77, up 20% and beating Wall Street estimates. Shares jumped over 12%.
Three weeks ago, we covered Smucker hiring Goldman Sachs for a portfolio review, with Elliott pushing. This week, the company posts its best quarter in recent memory. The Q4 beat doesn’t change the Hostess structural problem — sweet baked snacks are still declining while coffee, frozen handhelds, and pet perform. But it buys Smucker time and negotiating leverage. When your stock jumps 12% and you’re beating estimates, the urgency of a fire sale diminishes. Smucker can now approach the Hostess situation from a position of operational strength rather than desperation. Whether that means a higher asking price for Hostess or a longer timeline for the carve-out remains to be seen.
Remedy Lands Series A from L Catterton — $50M Expected This Year
Dermatologist-developed skincare brand Remedy closed a Series A led by L Catterton. Norwest and Sonoma Brands Capital also participated. Founded by Dr. Muneeb Shah in March 2024. Expects $50M in sales this year. Available on Amazon, TikTok Shop, DTC, and nationwide at Target.
March 2024 to $50M in 2026. Roughly two years from launch to nine-figure run rate trajectory. L Catterton leading at the Series A tells you everything — this is the firm shopping Thorne at $4B, backing Mars Men at $100M in 18 months, and building the CHAMP athlete-investor platform. When L Catterton invests in a skincare brand founded by the most influential dermatologist on social media, they see the same velocity-to-exit trajectory they’ve run across supplements and wellness.
Dr. Muneeb Shah is one of the most followed dermatologists on TikTok and Instagram. That audience converts directly to product sales — Remedy’s Amazon, TikTok Shop, and Target distribution captures the consumer wherever she shops. L Catterton bringing Norwest and Sonoma Brands into the round signals conviction that the velocity is real and sustainable, not just a creator spike.
Mammoth Brands Hungry for More Acquisitions
According to CNBC, Mammoth Brands is eager for more acquisitions in personal care and wellness. In late 2025, Mammoth paid more than $1B in cash and stock for Coterie, a baby care brand with $200M+ in net revenue.
A company that wrote a billion-dollar check for baby care is publicly stating it wants more. Mammoth Brands is building a personal care and wellness platform through acquisition at the highest price points we’ve tracked. $1B+ for Coterie at roughly 5x revenue on $200M+ is a premium multiple that signals Mammoth sees significant growth and margin expansion potential. Their appetite for more deals means every personal care and wellness brand with real velocity and $50M+ in revenue should be taking the call. The acquirer pool for personal care keeps getting deeper — Mammoth, Church & Dwight, Unilever, L’Oréal, and Henkel are all actively buying.
💰 THE FUNDING FRENZY
Big checks being written
Stars + Honey — $24M from VMG Partners
Flavor-forward protein bar brand secured $24M minority growth investment from VMG Partners. Founded by Daniel Rainey. Launched in 2023. Grew 300% in 2025. On pace for $50M in revenue by the end of 2026. Will use capital for a 60,000-square-foot manufacturing facility and national retail expansion.
VMG leading a protein bar brand at $24M after 300% growth is a major signal. VMG just led Brami’s $33M round for protein pasta. Now they’re backing Stars + Honey in protein bars. VMG is building a thesis around protein-forward food brands with exceptional velocity — and their exit track record (Bare Snacks to PepsiCo, Sun Bum to SC Johnson) means they’re backing brands they believe they can exit at significant multiples. Stars + Honey's building of its own 60,000-square-foot manufacturing facility follows the vertical integration trend we’ve tracked across WILDE (130K sq ft), Applied Nutrition (107K sq ft), and Crisp Power ($15M facility). When protein brands hit this growth rate, owning production becomes a strategic imperative.
Bawi — $6M from Brand Foundry Ventures
Sparkling agua fresca brand closed $6M led by Brand Foundry Ventures. Founded by Victor Guardiola in 2020. Strong presence in TX, CA, and the Midwest. Recently hired Erik Perkins as CCO (ex-Sysco, ex-Kraft Heinz) and Zackary Taylor for foodservice sales.
Agua fresca, as a packaged beverage category, continues to attract capital. Bawi’s strength in Texas and California — two of the largest Hispanic consumer markets in the U.S. — gives it a geographic foundation that national brands can’t easily replicate. The Sysco and Kraft Heinz hires signal the brand is building for foodservice and retail simultaneously. Brand Foundry Ventures is a firm with strong expertise in emerging brands and retail relationships.
Animal Capital — Fund III at $33M
Founded in 2020 by Marshall Sandman. Portfolio includes Inkbox (exited) and Sundays for Dogs. Tech portfolio features three decacorns and four unicorns. $33M in commitments for Fund III.
Animal Capital’s track record blends consumer and tech investments with strong outcomes. Inkbox exiting gives the fund a realized consumer return. The mix of consumer brands and tech companies in the portfolio suggests Sandman sees technology-enabled consumer brands as the intersection where the best returns live. $33M for Fund III is meaningful for an emerging manager — suggests LPs are rewarding the track record.
Rem3dy Health — $18M+ at $110M Valuation
UK-based 3D-printed gummy supplement brand raised $18M+ from Suntory, Hijos de Rivera, UPSA, Future Planet Capital, and others. Founded by CEO Melissa Snover. Revenue of £10.2M in 2025, up 61% year-over-year. Valuation just north of $110M.
3D-printed personalized gummy supplements. The technology allows customized vitamin combinations in a single gummy — each customer gets a formulation tailored to their needs. Suntory and Hijos de Rivera's investment brings a global beverage and consumer goods infrastructure. UPSA (pharmaceutical) adds credibility in healthcare. £10.2M in revenue, growing 61% at a $110M valuation, is roughly 10x revenue — a premium justified by the proprietary technology and personalization angle. If 3D printing can produce supplements at a commercial scale and cost, it would disrupt the entire one-size-fits-all supplement model.
Diamond Brew — 7-Figure Pre-Seed
Chicago-based craft instant coffee pod brand closed a 7-figure pre-seed from G/7 Venture Studio, Beckett Industries, Habitat Partners’ Daniel Faierman, Charlie Walk, and others. Founded by Douglas Yu in late 2024.
Making instant coffee feel craft, premium, and startup-backed. The instant coffee category is massive globally, but has been dominated by legacy brands (Nescafé, Folgers) with minimal innovation. Diamond Brew targeting the consumer who wants convenience without sacrificing quality — the same consumer thesis that drove Cometeer’s frozen coffee pods. Habitat Partners’ involvement connects Diamond Brew to the same investor network backing other emerging CPG brands.
Fizzen — Launch at 1,900 Target Stores
Sparkling protein drink co-created by Kristin Cavallari and VO/D, the talent venture studio behind Frosh and 1UP Candy. 8g protein, collagen, real fruit juice, vitamins B12 and B6. Single-serve cans and multi-packs at 1,900 Target stores.
VO/D keeps producing brands at Target. Frosh kids’ juice boxes launched nationwide at Target two weeks ago. Now Fizzen protein soda at 1,900 Target doors. The venture studio model — pairing celebrity/influencer names with operational infrastructure — is producing consistent retail placements at massive scale. Cavallari brings the audience. VO/D brings the product development, retail relationships, and operational execution. 1,900 Target doors on launch is a significant commitment for a new protein soda brand.
AeroFarms — Acquired by Palm Ventures
Indoor vertical farming company acquired by Palm Ventures, a family office. AeroFarms is a leading supplier of fresh microgreens, but it has been on the brink of bankruptcy. The acquisition saves the company’s technology and production capabilities under new ownership.
Vertical farming continues its pattern of big vision, big capital, and operational struggle. AeroFarms raised hundreds of millions but couldn’t make the economics work on its own. Palm Ventures acquires out of distress, gets the technology and production at a discount. Whether a family office can succeed where venture-backed management couldn’t depends on a fundamentally different approach to scaling — patient capital versus growth-at-all-costs.
Tilray Sells Atwater Brewery Back to Founder
Tilray sold Detroit-based Atwater Brewery back to founder Mark Rieth. Atwater originally exited to Molson Coors in 2020, then Tilray acquired it in a bulk transaction in 2023. Terms undisclosed.
The founder buying back the brewery is a fascinating transaction. Rieth built it, sold it to Molson Coors, watched it get absorbed into Tilray’s portfolio, and now gets it back. Tilray is shedding non-core assets as it focuses its portfolio. For Rieth, getting the brewery back at a likely fraction of what Molson Coors originally paid is a second chance to build independently.
🆕 PRODUCT LAUNCHES & INNOVATION
This week’s innovation circus
AG1 Pro — Creatine-Infused Greens
AG1 launched AG1 Pro — a creatine-infused version of its foundational greens powder. 5g creatine monohydrate plus HMB and zinc carnosine. Designed for muscle strength, recovery, and metabolic resilience.
AG1 isn’t just expanding into new products (Omega-3 last week). It’s expanding the core product itself. AG1 Pro takes the daily greens habit and layers creatine on top. One scoop. Greens plus creatine plus HMB. Under Kat Cole’s leadership, AG1 is transforming from a single-product company into a daily wellness platform — Omega-3 for one audience, Pro for the performance audience, and original for the core user. Three versions of the daily habit for three consumer profiles. Smart portfolio architecture.
Tom Brady and Gopuff Launch Good Nut Coconut Water
Tom Brady teamed up with Gopuff again for Good Nut — organic, unsweetened canned coconut water. Organic coconuts from Vietnam. Three varieties: Original, Chocolate, and Sparkling. Exclusive on Gopuff.
Brady keeps building consumer brands post-retirement. Good Nut’s Gopuff exclusivity is an interesting distribution choice — on-demand delivery as the launch channel rather than traditional retail. The Brady brand attracts trial. Gopuff's exclusivity creates scarcity and a direct relationship with consumers. Whether Good Nut moves into traditional retail later depends on velocity data from the Gopuff launch.
Barebells Low-Sugar Gummy Candy
Barebells launched a low-sugar gummy line: Sour Cola, Watermelon, and Peach Rings. If the product delivers on taste, this thrives in the convenience channel where Barebells already has wide distribution. The protein bar brand entering candy is a format extension that leverages existing shelf relationships.
SVEDKA Vodka Water in Clear Cans
Sazerac-owned SVEDKA is launching canned vodka water in completely clear, non-carbonated cans. Rolling out in 8-packs and 12-oz singles. Clear cans are a packaging innovation that lets the consumer see exactly what they’re drinking. Sazerac continues to extend its acquired brands into new formats.
Smash Kitchen Pasta Sauce at Walmart
Glen Powell’s brand enters another category. Classic Marinara and Roasted Garlic nationwide at Walmart. That’s hot sauce, kettle chips, popcorn, salad dressings, and now pasta sauce — all at Walmart. The brand approaching $100M keeps adding adjacent condiment and pantry categories through its existing Walmart relationship.
Lavazza Bringing Espresso Tablets to the U.S.
Italian coffee maker Lavazza launching its Tabli brewing system in the U.S. — single-serve tablets made of 100% coffee with no coatings, binders, gelatin, or additives. Launched in Italy last year. With consumers fleeing additives and microplastics, a pure-coffee pod alternative to Keurig K-Cups could find a receptive market.
More Launches Worth Watching
Takeaways — savory cheese bars with 12g protein, 3g fiber, 120 calories in a 1.1oz bar. If Chomps had a cheesy sibling.
Pierre Gasly launched Minded — functional hydration with 800mg electrolytes, vitamins D, C, A, B12, magnesium, and zinc. Another F1 driver entering functional beverages.
Create x Kendall Toole — first national campaign spanning social, TV, and OOH. Drawing attention to creatine’s cognitive and recovery benefits.
Snooz — sleep ice cream with chamomile, magnesium, L-Theanine launching in the UK. Sleep and ice cream together.
JiMMYBAR! Creatine + Collagen Protein Bar — 20g protein, 5g creatine, collagen in two flavors. Creatine stacking in bars continues.
Sauz dropped Basic Basil Marinara at Target, Kroger, and Wegmans.
Mezcla packaging refresh by Interact Brands plus four new flavors.
Willie’s Remedy+ packaging refresh by Interact Brands putting Willie Nelson front and center.
Cotto won NIQ’s 2026 Founders Pitch Slam — whipped cottage cheese dips, walking away with $50K.
Boylan launched Freedom Cola for America’s 250th — limited-edition cane-sugar craft soda.
Skylar x Leah Kateb — third fragrance collab True Love’s Cake at Sephora June 15th.
Pleasing (Harry Styles) London pop-up through July 5th after Amsterdam success.
Nécessaire launched Eucalyptus Water spray and portable body wipes.
Pura x Calm — functional home fragrance diffuser scents: Sleep Story, Soundscape, Breathe Bubble.
📊 THE DATA DIGEST
Numbers that matter
Smucker Q4: Stock Jumps 12%
Net sales up 6% to $2.3B. Adjusted EPS up 20% to $2.77, beating estimates. Three weeks after hiring Goldman Sachs and with Elliott pushing, Smucker posts its best quarter in recent memory. The portfolio review continues, but now from a position of strength.
Suja Q1: $107M, Up 22.5%
The newly public company delivered $107M in Q1, up 22.5% from $87M. Gross margin at 50.5%. Net income of $7.7M — 7.2% margin. The IPO that raised $186.7M is proving the public market thesis with strong execution. 50% gross margins on a $107M quarter with positive net income is exactly what Wall Street needs to see.
Organic Non-Alc Wine: Up 41%
Per Nielsen, organic non-alcoholic wine sales grew 41% year-over-year. Good Twin leads with 35% dollar share. The non-alc category keeps fragmenting into specific formats — beer, spirits, cocktails, and now wine, each developing independently. Good Twin owning 35% of a category growing 41% is category ownership in real time.
PerfectTed: On Pace for $100M
UK-based matcha brand PerfectTed is reportedly on pace to surpass $100M in revenue this year. Founded in 2021. Matcha keeps producing velocity stories on both sides of the Atlantic — Bloom, Chamberlain Coffee, and now PerfectTed, approaching nine figures.
Stars + Honey: 300% Growth, $50M Trajectory
Grew 300% in 2025. On pace for $50M by the end of 2026. VMG is writing $24M checks at this velocity.
🏪 DISTRIBUTION DOMINATION
Everyone’s everywhere
Target
Cure Hydration at 1,200+ stores after 550% three-year growth. Cadootz launching nationwide — the seed-oil-free kids’ cracker brand from Selva Ventures’ co-founder. Day Out at 2,000 stores. Evie’s in the South and Southeast. Fizzen at 1,900 stores — Kristin Cavallari’s protein soda from VO/D. Five brands hitting Target with over 7,000 combined doors.
Sephora
Vacation launching June 20th. The True Beauty Ventures-backed suncare brand entering prestige beauty retail. The cultural brand that transcended sunscreen into lifestyle gets the Sephora shelf.
CVS
Throne Sport Coffee now available. The Mahomes-backed functional coffee brand adding the pharmacy channel to its distribution. CVS gives Throne access to the daily convenience consumer.
Sprouts
LL’s Kitchen launched storewide. The natural channel incubator keeps adding emerging brands.
Hy-Vee
Natalie’s Juice launched storewide. The premium juice brand expanding across the Midwest.
Kroger
SMACKIN’ launched. The fast-growing sunflower seed brand is entering the largest traditional grocer.
Fairway Market
Cotto launched across NYC. The whipped cottage cheese dip brand that just won NIQ’s Pitch Slam, entering the iconic NYC grocer.
Regional and Specialty
Natty launched at New Seasons. Stimmie launched online at Ulta.
👋 PEOPLE MOVES
Shray Joshi, founder and CEO of retail media agency Good Peeps, joined Selva Ventures as Operating Partner. Selva’s portfolio includes Grüns, Arrae, Perelel, Crown Affair, and Sofie Pavitt Face. Adding a retail media specialist to a consumer venture firm’s operating team signals that media buying and retail marketing execution are becoming as important as product and distribution in scaling emerging brands.
Durana Elmi, Cymbiotika co-founder, is expanding responsibilities to Chief Creative Officer and Chief Experiential Officer. The supplement brand is building experiential positioning alongside functional products.
Erik Perkins joined Bawi as CCO from Sysco and Kraft Heinz. Zackary Taylor is heading foodservice sales. Experienced CPG and foodservice operators joining a sparkling agua fresca brand signals the scaling phase.
FDA approved bemotrizinol — the first new sunscreen ingredient since the 1990s. Used safely in Europe for decades. Provides UVA and UVB protection with low skin absorption. Every sunscreen brand in America is now reformulating. This regulatory change creates a product innovation cycle across the entire sun care category.
🔥 THE HOT TAKE
My unfiltered opinion on this week’s madness
Nobody’s talking about Second Nature Brands. And that’s exactly why they’re winning.
While the CPG media covers Celsius at $783M, David selling $90 ice cream, and OLIPOP turning down Coca-Cola, Second Nature Brands is quietly building one of the largest independent snack platforms in America. Voortman for $305M. Sahale for $34M. Brownie Brittle. And now Tillamook Country Smoker is at $175M+ with two manufacturing facilities.
That’s a diversified snack portfolio spanning cookies, crackers, trail mix, brownie snacks, and meat snacks — with owned manufacturing. No celebrity co-founders. No TikTok virality. No headlines. Just disciplined acquisition after disciplined acquisition, each one adding a category, a consumer occasion, and operational capability to the platform.
The boring platform builders keep producing the most defensible businesses in CPG. Church & Dwight’s playbook: Hero Cosmetics, TheraBreath, Touchland, Miss Mouth’s. Bridgepoint’s playbook: Obagi, RoC, Vivacy. Now Second Nature’s playbook: Voortman, Sahale, Brownie Brittle, Tillamook.
Every one of these platforms was built through consistent, disciplined M&A. Not one of them had a viral moment. Not one needed a celebrity. They just kept buying good brands at fair prices, plugging them into distribution infrastructure, and letting the portfolio compound.
Meanwhile, Stars + Honey grew 300%, and VMG wrote a $24M check. Remedy expects $50M in year two with L Catterton leading. Suja posted $107M in Q1 with 50% gross margins. The velocity brands are proving themselves simultaneously at every stage — from Series A (Remedy) to growth equity (Stars + Honey) to public company (Suja).
And Smucker’s stock jumped 12%. The company we wrote off three weeks ago just posted its best quarter in recent memory. The portfolio review continues, but the urgency faded. Smucker has time now. And in M&A, time is leverage.
The layers keep building. AG1 is adding Pro to the core product. Smash Kitchen is adding pasta sauce to the condiment platform. Second Nature is adding meat snacks to the cookie platform. The brands and platforms adding layers the fastest are the ones pulling ahead.
Build your layer. Then add the next one. And the next one. The compounding never stops.
🎙️ COMING TUESDAY
Unpackaged Goods Episode
Breaking down Second Nature Brands’ quiet snack empire and why nobody’s covering the most disciplined acquirer in CPG. Smucker’s 12% stock jump after hiring Goldman — what happens to the Hostess review now? Remedy at $50M with L Catterton in year two. Stars + Honey at 300% growth and $24M from VMG. AG1 Pro and the platform expansion thesis. Suja’s first public quarter was at $107M. The FDA has approved the first new sunscreen ingredient since the 1990s.
🥫 ONE MORE THING...
Before you close this tab
Second Nature Brands has now acquired four snack brands since 2022. Voortman ($305M). Sahale Snacks ($34M). Brownie Brittle. Tillamook Country Smoker ($175M+).
In the same period, the CPG media has written approximately zero trend pieces about Second Nature Brands. No profiles. No podcast interviews. No “how they’re disrupting snacking” features.
They don’t need the coverage. They have the portfolio. They have the manufacturing. They have the distribution. And they have the discipline to keep buying great brands at fair prices without announcing it on LinkedIn.
The boring platform builders never get the headlines. They just get the outcomes.
Until next Sunday,
Jonathan Deeter
Your CPG-Obsessed Friend
P.S. — SVEDKA is launching canned vodka water in completely clear cans. You can see the liquid through the can. In 2026, we now have glow-in-the-dark cocktails in lightbulb bottles (Boston Beer LYTT), push-cap technology that separates creatine from the liquid until consumption (KA-EX), and transparent cans you can see through (SVEDKA). The beverage packaging innovation wars are producing some genuinely unhinged creativity. At this rate, someone will launch a beverage in an edible container by Q4. Don’t tempt them.
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